Travel allowances and SARS logbook requirements
Do you earn a travel allowance? Are you a sole trader wanting to claim back the business portion of your personal vehicle’s cost for business purposes? Do you keep a logbook of your business mileage? Read here about how to maximise your allowance…
From 1 March 2010, it was compulsory for taxpayers who receive a travel allowance or have their own sole trader business and who wish to claim for the business mileage deduction, to keep a logbook of their business mileage.
It should include the date, odometer reading and purpose of trip/client’s name. Opening and closing odometer readings for each tax year must also be noted.
Taxpayers who do not comply will forfeit the benefit of their allowances and could owe money to SARS on assessment. Click here for your Free SARS logbook.
Should you require any further information, please do not hesitate to contact us.
All material subject to our Legal Disclaimers.